ENI (NYSE:E) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Eni SpA (NYSE:E)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $52.92 and traded as high as $55.11. ENI shares last traded at $54.6050, with a volume of 343,181 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on E shares. Weiss Ratings lowered ENI from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 18th. Erste Group Bank downgraded ENI from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. Wall Street Zen raised ENI from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded ENI from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.15.

ENI Stock Performance

The firm’s fifty day moving average price is $53.78 and its 200 day moving average price is $52.92. The firm has a market cap of $92.17 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 0.23 and a beta of 0.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.23.

ENI (NYSE:E) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The firm had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $27.93 billion. ENI had a net margin of 6.51% and a return on equity of 11.27%. Sell-side analysts expect that Eni SpA will post 6.19 EPS for the current fiscal year.

ENI Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 22nd will be issued a dividend of $0.6276 per share. The ex-dividend date is Tuesday, September 22nd. This represents a $2.51 dividend on an annualized basis and a yield of 4.6%. ENI’s dividend payout ratio is currently 44.25%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its position in shares of ENI by 83.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 8,321 shares of the oil and gas exploration company’s stock worth $390,000 after acquiring an additional 3,797 shares in the last quarter. NewEdge Advisors LLC grew its stake in ENI by 23,909.6% in the second quarter. NewEdge Advisors LLC now owns 12,485 shares of the oil and gas exploration company’s stock valued at $585,000 after purchasing an additional 12,433 shares during the last quarter. IFP Advisors Inc grew its stake in ENI by 111.2% in the second quarter. IFP Advisors Inc now owns 659 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 347 shares during the last quarter. HB Wealth Management LLC raised its holdings in ENI by 18.8% in the second quarter. HB Wealth Management LLC now owns 6,193 shares of the oil and gas exploration company’s stock worth $290,000 after purchasing an additional 982 shares in the last quarter. Finally, Oakmont Investment Advisors Inc. bought a new position in ENI in the second quarter worth about $394,000. 1.18% of the stock is currently owned by hedge funds and other institutional investors.

ENI Company Profile

Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Founded in 1953, the company operates across the energy value chain, including the exploration, development and production of oil and natural gas, as well as natural gas marketing and liquefied natural gas activities.

Eni also operates refining and chemicals businesses and has expanded into lower-carbon energy and related services. Through businesses such as Plenitude and Enilive, it provides renewable power, energy retail, electric-vehicle charging, mobility services, biofuels and other products designed to support the energy transition.